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Dow Plunges Nearly 1K

Almost wiping out its Wednesday surge
By Newser Editors and Wire Services
Posted Mar 5, 2020 3:00 PM CST
Dow Plunges Nearly 1K
Trader John Romolo works on the floor of the New York Stock Exchange, Thursday, March 5, 2020.   (AP Photo/Richard Drew)

(Newser) – Stocks and bond yields fell sharply Thursday as fears about fallout from the virus outbreak sent more shudders through markets, the AP reports. The Dow Jones Industrial Average sank 969 points, or 3.6% wiping out most of its surge of 1,173 points a day earlier. The S&P 500 was down 106 points or 3.4%, while the Nasdaq was down 279 points or 3.1%. Treasury yields sank to more record lows as investors plowed money into low-risk investments. The yield on the 10-year Treasury, a benchmark for mortgages, fell to 0.91%. Markets have been stuck on an up-and-down roller coaster for weeks because of uncertainty about how much damage the outbreak of the new coronavirus will do to the global economy. (Read more stock market stories.)

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